Royal London UK Real Estate Fund
The Royal London UK Real Estate Fund (RLUKREF) provides the opportunity to invest immediately in a large, diversified portfolio of UK commercial property. The underlying portfolio has been built up and managed over several decades, giving investors access to a wide range of high quality, prime assets that individually would be difficult and time consuming to acquire as they rarely come to market. The combined assets of the Fund are approaching £3 billion, with an annual rental income in excess of £120 million (as at 30 September 2020).
The RLUKREF invests in a balanced portfolio of UK real estate assets across all major sectors and regions. The Portfolio Fund Manager aims to balance the income from core holdings with active management through the life cycle of each asset wherever required to enhance the value of the portfolio. The Fund is designed to perform well under a range of market conditions, through investment in a high-quality portfolio of long-term, prime UK property assets. The portfolio has a strong concentration of Central London Office assets.
The Fund's objective is to outperform the return of the All Balanced Funds component of the MSCI/AREF UK Quarterly Property Fund Index.
This Fund is suitable for sophisticated investors only with a minimum investment of £50 million.
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The fund team
Drew Watkins – Portfolio Fund Manager
As Portfolio Fund Manager for the Royal London UK Real Estate Fund (RLUKREF), Drew has overseen the merger of the Royal London Life Funds’ property assets into this Tax Transparent Fund. Drew is 100% dedicated to all aspects of portfolio management for RLUKREF, including stock selection, research, property acquisition and disposals, property management, and strategy and risk.
Drew was the Portfolio Fund Manager for the Royal London and RLCIS Long Term Funds. Prior to this, Drew was Head of Retail and has managed the in-house pension funds and property unit trust as well as external segregated funds.
Drew graduated in 1987 with a BSc (Hons) in Land Administration and was elected a member of the Royal Institution of Chartered Surveyors in 1992. He joined the retail team at GL Hearn & Partners and after a short spell moved to Royal London.
Stephanie Hacking – Deputy Portfolio Fund Manager
Stephanie assisted in the merger of the Royal London Life Funds and the launch of RLUKREF and works alongside Drew on portfolio management, stock selection, research, property acquisition and disposals, property management, and strategy and risk. She is responsible for coordinating the day-to-day asset management initiatives within the fund. She works in close coordination with the RLAM sector specialists in sourcing suitable assets and identifying and undertaking active management opportunities within the portfolio through business plan led active management.
Stephanie joined RLAM in 2006 as an Asset Manager to work on asset enhancement initiatives in the Life and Unit Linked Funds. Stephanie was promoted to Fund Manager in 2011 focusing on the Office market undertaking asset management, development and investment transactions across all funds. Stephanie has a particular specialism in the South East Office market and is responsible for investment transactions in this market.
Stephanie was previously the Portfolio Fund Manager for the Royal Liver Funds totalling £300m and was responsible for the portfolio management, research, property disposals, property management, and strategy and risk.
Stephanie has a degree in Business Economics from the University of Liverpool and a Masters degree in Property Valuation and Law from Cass Business School, City University.
Daniel Shepherd – Fund Manager
Daniel joined RLAM from AXA Investment Managers in 2014 as a Senior Asset Manager to work across all funds under management, with a particular focus on the office and industrial sectors. He was promoted to Assistant Fund Manager in 2017, Fund Manager in 2020 and has 22 years real estate experience. Daniel has focussed on strategic asset management of the fund’s assets as well as undertaking multiple transactions and development projects.
Daniel is the deputy portfolio manager of the Royal London UK Real Estate Fund. He works alongside Drew on portfolio management, stock selection, research, property acquisition and disposals, property management, and strategy and risk. He is responsible for coordinating the day-to-day asset management initiatives within the fund and works in close coordination with the RLAM sector specialists in sourcing suitable assets and identifying and undertaking active management opportunities within the portfolio through business plan led active management.
Product risk warning
Property-based pooled vehicles, such as the Fund, invest in real property, the value of which is generally a matter of a valuer’s opinion. It may be difficult to deal in the shares of the Fund or to sell them at a reasonable price because the underlying property may not be readily saleable, thus creating liquidity risk.